Quantum computing can already make money, Finnish startup IQM told TNW Conference

It is a common assumption that quantum computing is a long-term bet that may take at least a decade to turn a profit. But that’s not always the case. 

At TNW Conference in Amsterdam last week, Jan Goetz, co-founder and co-CEO of Finnish quantum startup IQM, revealed his company began earning revenue much earlier — by taking a page from SpaceX’s funding playbook.

“When we started, it was a classic deep tech case, and people thought revenue would be five to 10 years out,” Goetz said. “No, that’s stupid. You can make money already with these very early-stage machines.”

Rather than wait for a fully mature product, IQM has focused on selling quantum computers in their nascent stages to state-funded research institutions. The approach is similar to how SpaceX sold early rockets to public sector clients, even when many of those rockets failed shortly after launch. The idea ...